BankSA

BankSA, formerly known as the Bank of South Australia, the State Bank of South Australia and the Savings Bank of South Australia is the largest bank in South Australia. It is a subsidiary of Westpac.

"Bank of South Australia" redirects here. For the earlier unconnected business with the same name, see Bank of South Australia (1837).

BankSA
FormerlySavings Bank of South Australia
State Bank of South Australia
Bank of South Australia
TypeSubsidiary
IndustryFinance and insurance
Founded11 March 1848, as the Savings Bank of South Australia[1]
HeadquartersAdelaide, South Australia
Area served
South Australia & Northern Territory
ProductsPersonal Banking, Business Banking and Insurance
ParentWestpac
WebsiteOfficial website

History

The forerunners of the Bank of South Australia were the Savings Bank of South Australia, founded in 1848, and the State Bank of South Australia. These were merged under the name State Bank of South Australia in 1984.[2]

The State Bank of South Australia was sold to Advance Bank due to a collapse and bailout by the Government of South Australia in 1992, when non-performing assets exceeded 30% of the loans. Advance Bank was purchased by St George Bank in 1997, and the State Bank became a division of Westpac when St George and Westpac merged in 2008.[3][4]

In October 2014, the bank was rebranded as BankSA.[5]

Adelaide Fringe partnership

In November 2005, the State Bank began its sponsorship of Australia's biggest arts festival, the Adelaide Fringe, with a A$1.4 million partnership until 2010.[6] This sponsorship has been renewed, and BankSA is the Fringe's principal partner until at least 2022.[7]

References
  1. "Banks in Australia". Retrieved 19 August 2019.
  2. Appendix 2: Australian Banks 1980 - 1990 Reserve Bank of Australia
  4. Our History St George Bank
  5. "A New Identity for South Australia's bank". 14 October 2014. Retrieved 19 August 2019.
  6. "BankSA - Principal Partner of the Adelaide Fringe". UTS. Retrieved 19 August 2019.
  7. BankSA backs Adelaide Fringe and renews commitment as Principal Partner Adelaide Fringe 10 September 2021
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